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At December 31, 2014, the Following Information Was Available from Kohl

Question 72

Multiple Choice

At December 31, 2014, the following information was available from Kohl Co.'s accounting records: At December 31, 2014, the following information was available from Kohl Co.'s accounting records: Sales for the year totaled $1,200,000. Markdowns amounted to $10,000. Under the lower-of-cost-or-market method, Kohl's inventory at December 31, 2014 was A) $294,000. B) $147,000. C) $140,000. D) $133,000. Sales for the year totaled $1,200,000. Markdowns amounted to $10,000. Under the lower-of-cost-or-market method, Kohl's inventory at December 31, 2014 was


A) $294,000.
B) $147,000.
C) $140,000.
D) $133,000.

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